Mazor Robotics Enters a New Era (Motley Fool)
A game-changing deal with Medtronic leads to record quarterly results.
Mazor Robotics a robotic surgery company focused on spine and brain procedures, reported its third-quarter results on Tuesday, Nov. 7. Revenue more than doubled, margins expanded, and net loss shrank. When adding in the company's transformative deal with Medtronic it was truly a quarter for the record books.
Mazor Robotics Q3 results: The raw numbers
Metric
Q3 2017
Q3 2016
Year-Over-Year Change
Revenue
$17.2 million
$7.6 million
126%
Net loss
($3.7 million)
($5.2 million)
N/A
EPS
($0.07)
($0.11)
N/A
EPS = EARNINGS PER SHARE. DATA SOURCE: MAZOR ROBOTICS.
What happened with Mazor Robotics this quarter?
The big news from the quarter was that Medtronic and Mazor entered into the next phase of their strategic partnership. Medtronic made a $40 million investment in Mazor (its third) and also assumed worldwide distribution rights to the Mazor X.
As of November 1st, 29 former Mazor employees have joined the Medtronic robotic sales team, and all Mazor X activities have been successfully transferred.
If that wasn't exciting enough, the Mazor X also received r...
